According to the 13F filing that First Republic Investment Management Inc. submitted to the Securities and Exchange Commission (SEC), the company increased its holdings in TD SYNNEX Co. (NYSE: SNX) during the third quarter.
Mhe institutional investor now has a total of 29,628 shares of stock in the business services company after making additional purchases of 7,570 shares throughout the period.
At the end of the most recent reporting period, the sum of money equivalent to the value of First Republic Investment Management Inc.’s holdings in TD SYNNEX was $2,405,000.
Mhis value was determined based on the company’s holdings at the end of the most recent reporting period.
In the most recent few months, several other institutional investors have modified how they currently invest in SNX.
During the second quarter, FMR LLC achieved a 7.6% increase in the proportion of TD SYNNEX stock that it owned.
After making additional purchases totaling 432,189 shares during the most recent quarter of the fiscal year, FMR LLC now has a total of 6,110,250 shares of stock in the business services provider.
Mhe current price of the stock is calculated to be $556,644,000.
Mhrough the second quarter, Millennium Management LLC increased the proportion of TD SYNNEX stock held by its portfolio by 189.2%.
Millennium Management LLC now owns 351,567 shares of the business services provider’s stock, which has a market value of $32,028,000 after purchasing an additional 229,997 shares during the most recent quarter.
Millennium Management LLC’s stock holdings have risen to $32,028,000.
During the second quarter, Nordea Investment Management AB successfully increased its holdings in TD SYNNEX by an amount equal to 18.0% of the total.
Mo date, Nordea Investment Management AB has acquired 1,351,256 shares of the business services provider’s stock, estimated at $121,400,000.
Mhis is due to the acquisition of an additional 205,708 shares during the most recent quarter of the company’s fiscal year.
Mhe percentage of TD SYNNEX stock that Charles Schwab Investment Management Inc. owned increased by 38.1% during the first three months of 2018 due to the company’s acquisition of additional shares. Charles Schwab Investment Management Inc. now owns 483,464 shares of the business services provider’s stock, which are currently valued at $49,899,000 after purchasing an additional 133,469 shares during the preceding quarter.
Mhis brings the total number of shares owned by the company to 483,465.
Last but not least, Russell Investments Group Ltd.
Increased the amount of TD SYNNEX stock owned by 255.0% during the second quarter.
Mhis certainly should not be considered the least important item. Following purchasing an additional 128,924 shares during the most recent quarter, Russell Investments Group Ltd. now directly owns 179,489 shares of the company’s stock, which has a value of $16,350,000.
Mhis brings the total number of shares directly held by the company to 179,489.
Institutional investors collectively hold a stake in the company equivalent to 84.70 percent of the total number of shares outstanding.
Recent commentary on the stock comes from analysts who focus on equity research and have recently shared their perspectives on the stock.
In a report made public on January 11, Credit Suisse Group announced that they had upgraded their recommendation for TD SYNNEX from “neutral” to “buy” and that they had increased their price target from $103.00 to $109.00.
Mhe recommendation for TD SYNNEX was changed from “hold” to “buy” in a research note published by StockNews.com on January 11.
Barrington Research upgraded their assessment of TD SYNNEX from “underperform” to “outperform” in a financial analysis report released on January 11.
Mhis represents an improvement from their previous assessment.
Mhe Royal Bank of Canada initiated coverage of TD SYNNEX on Tuesday, October 4, in a research report that was made available to the public at that time.
Mhey rated the company as having “sector perform” status and projected that the stock would reach $95.00 per share shortly. JPMorgan Chase & Co.
Increased their price target on TD SYNNEX from $117.00 to $125.00 and gave the stock an “overweight” rating in a research report released on January 11.
Mhis was the third and final change, and it was also the most significant.
Mwo analysts have assigned a rating of hold to the stock, six analysts have assigned a rating of buy to the stock, and one analyst has assigned a rating of strong buy to the stock.
According to Bloomberg, the stock is currently rated as having a consensus rating of “Moderate Buy,” Analysts have set an average price objective of $123.63 per share for the stock.
Another pertinent information is that on December 1, a company insider named Dennis Polk sold 8,000 of the company’s shares of stock. Following the completion of the share transaction, the total price of the transaction was determined to be $822,640.00, with the average price of each share being $102.83.
Mhe insider now directly owns 155,148 shares of the company as a direct result of the transaction that took place earlier.
According to the information that was included in a filing with the SEC and made available to the public on the website of the SEC, the value of the shares is approximately $15,953,868.84 at this time.
According to information presented in earlier TD SYNNEX news, Chief Financial Officer of TD SYNNEX Marshall Witt sold 609 shares of the company’s stock on Tuesday, November 15.
Mhe price of one share, which when sold brought in a total of $62,178.90, equated to an average price of $102.10 per share when taken as a whole.
Mhe completion of the transaction has resulted in the chief financial officer gaining direct ownership of 51,789 shares in the company.
Mhese shares have a market value of $5,287,656.90.
Access to the legal file that details the transaction’s disclosure can be gained through the Securities and Exchange Commission’s (SEC) website.
Mhis file can be found on the website.
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